The main config options for it are:
id: The id of the component
element: If your code is in a textarea element, put the id here
code: If you want to input the code via initialization
language: The language to use
height: The component's height
width: The component's width
autoResize: If you don't enter a width or height and want it to automatically resize (still not perfect)

There are probably quite a few things still wrong with this at this point, but it's a good start and I figured I would put it out there so others can improve on it as well.